AQR Capital Management LLC Purchases 320,785 Shares of News Co. (NASDAQ:NWSA)

AQR Capital Management LLC increased its position in News Co. (NASDAQ:NWSA) by 188.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 491,123 shares of the company’s stock after purchasing an additional 320,785 shares during the quarter. AQR Capital Management LLC owned approximately 0.09% of News worth $13,540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NWSA. International Assets Investment Management LLC acquired a new stake in shares of News during the 2nd quarter valued at about $26,000. Acadian Asset Management LLC lifted its stake in News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after purchasing an additional 506 shares during the period. Fidelis Capital Partners LLC acquired a new stake in News during the first quarter valued at approximately $34,000. Covestor Ltd raised its holdings in shares of News by 125.8% in the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after buying an additional 962 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in News in the 2nd quarter valued at $46,000. Institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of NWSA stock opened at $26.41 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 73.36 and a beta of 1.34. The firm’s 50 day moving average is $27.04 and its 200-day moving average is $26.49. News Co. has a 1 year low of $19.25 and a 1 year high of $28.62.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. News had a return on equity of 4.51% and a net margin of 2.64%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company earned $0.14 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Sell-side analysts forecast that News Co. will post 0.87 EPS for the current fiscal year.

News Dividend Announcement

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 11th. This represents a dividend yield of 0.7%. News’s dividend payout ratio is 55.56%.

Analyst Ratings Changes

A number of research analysts have issued reports on NWSA shares. JPMorgan Chase & Co. lifted their price objective on News from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Loop Capital boosted their price target on shares of News from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $38.00.

News Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.